By Elena Fehrbach
Jun. 18 – Mongolia and China held the intergovernmental meeting in Beijing where representatives has discussed trade and economic development plans. One of the key projects discussed is Mongolian government’s plan to rent 10 hectares of land at the Dunzian Port in Tianjin city. Government officials from Mongolia has visited Tianjin city and port area in Binhai district to get acquainted with infrastructure and business environment. Continue reading
By Elena Fehrbach
May 21 – South Korean Samsung C&T Corporation won the tender and signed the agreement for the construction of a 217 kilometer railway that will connect Tavan Tolgoi coking coal deposit with the Mongolia-China border.
The project also assumes construction of the relevant infrastructure, such as rolling stock depot. Samsung will be sole contractor to implement the project. Estimated cost of the project is US$483 million. Continue reading
Apr. 10 – The Ulaanbaatar Railway Mongolia-Russia joint venture (UBTZ) transported a record 18.4 million tons of cargo and gained net profits amounting to more than 4.4 billion tugrik last year, according to the company statement which was announced during a regular meeting of the board of directors.
Freight traffic has grown by 10 percent, while the volume of passengers has grown by 9 percent to 3,829,000 in 2011, compared with 2010. The majority of passengers (3,662,600) were carried domestically, and 166,400 passengers internationally.
Freight turnover for the Ulaanbaatar Railway, or the Trans-Mongolian Railway, stood at 11,382,000 tons in 2011. Continue reading
Jun. 17 – 2point6billion.com has unconfirmed reports from Mongolia’s South Gobi region, home to much of the nation’s mining industry, that hundreds of Chinese truck drivers have been turned back to the China border.
There has been no official commentary on the issue, however we understand that it is linked to three main aspects concerning cross border transport and China-Mongolia relations. At the heart of the matter is the current status of both nations concerning their recognition of cross border transport protocols as determined by the international organization Transports Internationaux Routiers (TIR). Continue reading
Jun. 9 – Mongolian President Tsakhiagiin Elbegdorj has been in Russia recently meeting with Russian President Dmitry Medvedev and Prime Minister Vladimir Putin. One of the key issues at stake is the development of an additional 6,000 kilometers of rail track, a requirement that has been put out to tender but is increasingly looking at going to Russia.
Russia’s railway monopoly OAO Russian Railways is prepared to invest US$1.5 billion towards this train network to help boost trade between the two countries, according to CEO Vladimir Yakunin. Continue reading
Part of the Khoshigt Valley, site of the new UB airport
May 23 – The Mongolian government has agreed with the government of Japan on a US$270 million soft loan, repayable over 40 years at a rate of just 0.2 percent to build a new airport to service Mongolia’s capital, Ulaanbaatar. The city’s current airport suffers from occasional high winds and has a relatively short runway unsuitable for 747s and larger aircraft.
The new facility, to be built and completed by 2015, will be able to service all larger modern aircraft and affords better protection from windshear. It should reduce annual flight cancellations and delays from the current level of 2.5 percent down to 0.5 percent. The airport will be built in the Khoshigt Valley, near Terelj in Tov Aimag, about 54 kilometers from the capital. Construction on the new airport – together with a high speed motorway that connects Ulaanbaatar with the airport – is expected to be started later this year. The loan was agreed on condition that Japanese contractors and suppliers were used. Continue reading
May 31 – Mongolia has strengthened its ties with Hong Kong through the creation of a new consulate, and the establishment of bi-weekly direct flights to Ulaanbaatar. The links bring increased exposure to the financing and business opportunities in the country as Mongolia seeks to attract investors to help the nation develop its new-found wealth. Continue reading